Domenici Statement on Renewable Energy Tax Credits in Economic Stimulus Package

January 22, 2008
06:03 PM
WASHINGTON – U.S. Senator Pete Domenici, ranking member of the Senate Energy and Natural Resources Committee and former chairman of the Senate Budget Committee, today released the following statement regarding the inclusion of renewable energy tax credit extensions in the proposed comprehensive economic stimulus package:
            “Over the last several years, it is apparent that America’s renewable energy industry has shown great promise.  Much of the growth of these industries, such as wind, solar, biomass and geothermal, has been a direct result of tax credits established by Congress.  Many of these tax credits, however, are set to expire at the end of this year.
            “I strongly believe that the renewable energy tax credits should be extended, and that the economic stimulus package now on the table is an appropriate place to do it.  Tax incentives that provide for the production of renewable energy will help grow the economy by increasing jobs, lowering energy prices, and infusing much-needed capital into the markets.
            “I look forward to working with the leadership of the Finance Committee and the Senate to explore the possibility of including these important provisions in economic stimulus legislation.